Eli Lilly’s newly launched GLP-1 pill, Foundayo, has already attracted over 20,000 users in its first few weeks, according to CEO Dave Ricks. The FDA approved Foundayo earlier this month, marking it as the second oral GLP-1 drug on the market, following Novo Nordisk’s Wegovy. Ricks noted that the company is seeing over 1,000 new patients daily, although he emphasized that building brand recognition will take time, especially since more than 80% of Foundayo users are new to GLP-1s.
This development is significant for the financial markets as investors continue to monitor prescription trends for insights into the drug’s performance. Eli Lilly’s first-quarter earnings report showcased impressive growth, with sales of its existing diabetes and weight-loss drugs, Mounjaro and Zepbound, increasing by 125% and 80%, respectively. With a dominant 60.1% market share in the U.S. obesity and diabetes sector, Eli Lilly is strategically positioned to compete against Novo Nordisk.
The key takeaway for market professionals is that while immediate results from Foundayo may not yet be reflected in earnings, the early demand signals strong potential for Eli Lilly’s continued leadership in the GLP-1 market, making it a stock to watch closely in the coming quarters.
Source: cnbc.com